The largest and most populous municipality in the East Midlands, Leicester has a history of diversifying its economy and helping high-end brands to grow.
These factors make advertising in Leicester an extremely lucrative practice for businesses across multiple markets, particularly those that deal in luxury products and services.
The city is also known to have the single largest economy in the East Midlands region, with a number of banking institutions and large retail brands (including Next, Shoe Zone and Brantano Footwear) based within the area.
Why Advertise on Billboards in Leicester?
Leicester’s reputation as a diverse and prosperous economic hub is well deserved, while it has also appealed to advertisers for generations. It was first established during the 1930s, when the cities flexibility and lack of reliance on primary industries enabled it to thrive while others struggled in the wake of tariff wars and the Great Depression.
Since then, its economy has continued to diversify and grow exponentially, with the cities GVA estimated at £15.3 billion as part of a recent study conducted by Experian. It is this expansion that has encouraged numerous high profile brands to make Leicester their primary base, with British Gas, HSBC, Santander and Dunelm Mill joining the aforementioned retail brands at the heart of the region.
As a city, Leicester has also diversified its range of available skill-sets on the back mass immigration into the region. This also created a number of new demographics for advertisers to target since the Second World War, with just 65% of the local population having originated in Britain.
In the wake of Leicester City’s unprecedented Premier League title win in 2016, the region has also benefit from renewed interest and investment from advertisers. Leicestershire County Cricket club are also well-supported in the area, despite languishing at the bottom of the second division of the County Championship at present.
Leicester’s Population and Demographics
The latest figures suggest that Leicester has an estimated population of 329,839. The city also boasts a relatively even demographic split, with 51% female and 49% male.
Interestingly, Leicester is also one of the youngest major cities in the UK, with an average age of 35 and a median age that is even lower at 31. This affords advertisers to target a strong Millennial consumer base, which is crucial given that this demographic is more likely than any other to spend their disposable income on brands that they engage with.
We have talked at length about the diverse nature of Leicester’s economy, and this is reflected by the various occupations undertaken by its residents. 17% work in elementary and entry level jobs, for example, while a further 14.3% operate as professionals. The city’s heritage as a high end manufacture has also been reinforced in recent times, with 12.7% of citizens working as process or plant operatives and 9.3% serving as skilled tradespeople.
In terms of national demographics, Leicester has a strong Indian community that accounts for 11.3% of the population. A further 4.2% originate from South African countries including Kenya, Zimbabwe and Somalia, creating a diverse and multicultural population that offers multiple opportunities to marketers.
Why Outdoor Advertising in Leicester is Beneficial
With a youthful and culturally diverse population, not to mention a large and thriving economy, Leicester remains something of an advertisers dream in the modern age. With Millennials increasingly prominent within the region, brands can also look to benefit from increased spending by marketing higher-end products.
With this in mind, outdoor advertising may prove to be a secret weapon for businesses. After all, this affordable but targeted method is known to deliver an excellent ROI, while it is also effective at engaging Millennials and driving online interaction between customers and brands.